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The Financial Express

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Pakistan key policy rate unchanged at 15pc

Pakistan key policy rate unchanged at 15pc

-- 2022-10-10 19:33:16

Pakistan's central bank on Monday kept its key policy rate unchanged at 15 per cent at a scheduled meeting of its monetary policy committee, the bank said in a statement. Pakistan has been facing an...

Three US economists win Nobel for research on banks and financial crises

Three US economists win Nobel for research on banks and financial crises

-- 2022-10-10 16:18:10

Three US-based economists -- Ben Bernanke, Douglas Diamond and Philip Dybvig -- won the 2022 Nobel Economics Prize "for research on banks and financial crises", the Royal Swedish Academy of Sciences s...

Thailand economic recovery supported by return of tourism -Finance Minister

Thailand economic recovery supported by return of tourism -Finance Minister

REUTERS 2022-10-10 15:01:36

Thailand's economic recovery will not be affected by a global slowdown due to a rebound in tourism, Finance Minister Arkhom Termpittayapaisith told reporters on Monday. "Our economy depends on touris...

Stocks slip in Asia, brace for CPI and earnings

Stocks slip in Asia, brace for CPI and earnings

REUTERS 2022-10-10 12:42:20

Stocks slipped in Asia on Monday after a surprise drop in US unemployment quashed any thought of a pivot on policy tightening ahead of a reading on inflation which is expected to see core prices move...

India's RBI sells dollars as rupee hits record low on US rate hike woes

India's RBI sells dollars as rupee hits record low on US rate hike woes

-- 2022-10-10 11:04:54

The Reserve Bank of India likely sold dollars via state-run banks on Monday after the rupee plumbed a fresh record low following a US jobs report that firmed bets of more aggressive rate hikes, Reuter...

Ukraine seeks to rebuild economy with defiant small businesses

Ukraine seeks to rebuild economy with defiant small businesses

-- 2022-10-08 15:46:19

Victoriia Maslova abandoned her herbal cosmetics factory in the Ukrainian town of Bucha on the first day of Russia's invasion of the country, fleeing to Poland with her mother and three younger brothe...

India to launch digital rupee on pilot basis for limited use

India to launch digital rupee on pilot basis for limited use

-- 2022-10-08 15:42:09

The Reserve Bank of India will soon commence limited pilot launches of a central bank-backed digital rupee for specific use cases, it said in a concept paper released on Friday. According to Reuters,...

Malaysia announces tighter 2023 budget as it warns of slowing growth

Malaysia announces tighter 2023 budget as it warns of slowing growth

REUTERS 2022-10-07 14:55:42

Malaysia on Friday unveiled a smaller budget for 2023, prioritising fiscal discipline over expectations of populist measures, as it warned of a slowdown in the economy from rising global risks. Prime...

Indonesia's forex reserves drop to $130.8b at end-September

Indonesia's forex reserves drop to $130.8b at end-September

-- 2022-10-07 11:41:51

Indonesia's foreign exchange reserves fell by $1.4 billion last month to $130.8 billion due to payments of foreign debt and the central bank's effort to stabilise the rupiah currency, Bank Indonesia (...

No peace for India's rupee as mighty dollar thunders on: Poll

No peace for India's rupee as mighty dollar thunders on: Poll

-- 2022-10-07 10:56:43

India's rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive US Federal Reserve rate-hiking campaign, according to a Reut...

World Bank cuts India's growth forecast to 6.5pc for 2022/23

World Bank cuts India's growth forecast to 6.5pc for 2022/23

-- 2022-10-06 17:54:33

The World Bank on Thursday slashed its growth forecast for India to 6.5 per cent year-on-year for 2022/23, from an earlier estimate of 7.5 per cent, while warning that spillovers from the Russia-...

‘World unlikely to meet goal of ending extreme poverty by 2030’

‘World unlikely to meet goal of ending extreme poverty by 2030’

-- 2022-10-05 20:10:42

The world is unlikely to meet a longstanding goal of ending extreme poverty by 2030 due to shocks related to the COVID-19 pandemic and the Russia-Ukraine war, the World Bank said in a new report relea...

World Bank sees weak growth in 2023 for eastern Europe, central Asia

World Bank sees weak growth in 2023 for eastern Europe, central Asia

-- 2022-10-05 15:05:51

The World Bank said on Tuesday that countries in eastern Europe and Central Asia will return to weak growth in 2023, but warned that a cut-off of Russian energy to the European Union would tip them in...

Singapore likely to tighten monetary policy

Singapore likely to tighten monetary policy

-- 2022-10-05 13:08:15

Singapore is likely to tighten monetary policy this month, the fifth time in a row, amid persistent inflation in the Asian financial hub due to global supply chain disruptions and a tight labour marke...

Asian stocks bounce higher on signs rate hikes are working

Asian stocks bounce higher on signs rate hikes are working

REUTERS 2022-10-05 10:11:28

Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressure...

Global recession can be avoided with right fiscal policies, says IMF chief

Global recession can be avoided with right fiscal policies, says IMF chief

-- 2022-10-04 18:18:25

Global recession can be avoided if governments' fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next year, the International...

China likely to boost oil products exports into early 2023, support economy

China likely to boost oil products exports into early 2023, support economy

REUTERS 2022-10-04 10:49:31

Chinese refiners are likely to boost refined oil products exports in the last two months of 2022 and into early 2023 after receiving the biggest allocation from Beijing this year, trade sources and an...

World economy to see 2.5pc growth in 2022, 2.2pc in 2023: UNCTAD

World economy to see 2.5pc growth in 2022, 2.2pc in 2023: UNCTAD

FE ONLINE DESK   2022-10-03 21:12:57

The United Nations Conference on Trade and Development (UNCTAD) has projected that the world economy would grow 2.5 per cent in 2022. UNCAD expected that growth to decline further to 2.2 per cent in...

UK forced into humiliating tax U-turn

UK forced into humiliating tax U-turn

-- 2022-10-03 14:10:43

British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn, reversing plans to cut the highest rate of income tax that helped to spark a rebellion in her party and tur...

Global gas markets to remain tight next year amid supply squeeze

Global gas markets to remain tight next year amid supply squeeze

-- 2022-10-03 11:41:03

Global gas markets are expected to remain tight next year as Russian pipeline gas supplies dwindle and gas demand falls in Europe in response to energy-saving measures and high prices, the Internati...

Some 345 million people facing food shortages due to Ukraine war, says IMF

Some 345 million people facing food shortages due to Ukraine war, says IMF

-- 2022-10-02 18:36:41

The Ukraine war's disruptions to grain and fertiliser flows have prompted the worst food security crisis since at least the one following the 2007-2008 global financial meltdown, with some 345 million...

India cuts windfall tax on crude oil output, diesel exports

India cuts windfall tax on crude oil output, diesel exports

-- 2022-10-02 12:38:28

The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne from Sunday, after a decline in global oil prices, reports Reuter...

US consumers spurn cars, couches and cruises, results show

US consumers spurn cars, couches and cruises, results show

-- 2022-10-01 15:30:28

US consumers are exhibiting fragility ahead of the peak period for corporate results next month, as some are struggling to pay bills and others are slowing purchases of cars, sneaker...

ADB to support coral reefs ecosystem in four Asia-Pacific countries 

ADB to support coral reefs ecosystem in four Asia-Pacific countries 

-- 2022-09-30 19:17:11

The Asian Development Bank (ADB) said Friday that it has approved a financial project to support restoration, conservation and management of coral reefs in four countries in Southeast Asia and the Pac...

Sri Lanka's inflation rises to 69.8pc in Sept 

Sri Lanka's inflation rises to 69.8pc in Sept 

-- 2022-09-30 18:54:27

Sri Lanka's inflation, as measured by the year-on-year change in the Colombo Consumer Price Index, rose to 69.8 per cent in September 2022 from 64.3 per cent a month earlier, the Department of Census...

India's key policy rate raised by 50 bps

India's key policy rate raised by 50 bps

-- 2022-09-30 11:59:55

The Reserve Bank of India's benchmark repo rate was raised by 50 basis points on Friday, the fourth straight increase in the current cycle, as policymakers extended their battle to tame sustained abov...

German inflation hits highest level in over 25 years

German inflation hits highest level in over 25 years

-- 2022-09-29 21:29:29

German inflation was at its highest level in more than a quarter of a century in September, driven by higher energy prices no longer dampened by popular relief measures, data showed on Thursday, repor...

World Bank president sees risk of stagflation, likely recession in Europe

World Bank president sees risk of stagflation, likely recession in Europe

-- 2022-09-29 18:18:04

World Bank President David Malpass on Wednesday warned that it could take years for global energy production to diversify away from Russia after its invasion of Ukraine, prolonging the risk of stagfla...

Philippine economy to grow more slowly than previously thought in 2022, IMF says

Philippine economy to grow more slowly than previously thought in 2022, IMF says

-- 2022-09-27 18:54:36

The Philippine economy will grow more slowly this year than previously thought due to the global economic slowdown and tightening financial conditions, the International Monetary Fund (IMF) said on Mo...

World Bank forecasts Thai GDP growth at 3.1pc this year

World Bank forecasts Thai GDP growth at 3.1pc this year

-- 2022-09-27 18:48:12

Thailand's economy is expected to grow 3.1 per cent this year, higher than a forecast in June of 2.9 per cent, supported by private consumption and exports, the World Bank said on Tuesday. However, t...